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New tax code for 2007/2008
ok just being sure.... i was on the 503L tax code but now i am on the 522L which reading on here is correct. However, am i paying to much tax as my salary has come down by a bit :-( does the new tax code allocated to me mean i need to pay MORE tax?? (i.e before i was paying to less??)
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Limited Liability Partnerships
Hi hope someone can help I am due to file my accounts and was just wondering what the filing requirements were. I know that I just file a partnership tax return with the inland revenue as normal but do i need to send accounts into companies house or any other bodies? Thanks in advance
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Tax Calculation question (Tax Return)
Last year I was self employed for a while. This is the first time I have to fill in my tax return and I've decided to do it without the help of any accountant. One question about the automatic Tax Calculation on the online self assessment page: 2006-07 balancing payment £ 5,726.62 1st payment on account for 2007-08 due 31…
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Tax rebates, can I do it for free myself?
I have seen lots of adverts on the intenet saying I maybe eligable for a tax rebate as I may have had the wrong tax code in 2002 and 2003 as we had cildren then and the inland rev got a lot of tax codes wrong then. All sounds great but they will take 30% or more of the rebate. Can I claim this rebate myself directly and…
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IR35 and a Sole Trader
I've been self employed from around the end of 2000 up to the beginning of this year and I've now got a 'real' job'. During my period of self employment, I working for 1 main customer, initially on a part time basis, but as the years went by, this was more or less on a full time basis. I had a desk at their offices and…
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Cash gift - surviving seven years
I've seen lots of references to situations of people giving money to their family to avoid inheritance tax on the gift if they survive 7 years beyond the date of the gift. Is there a sliding scale involved here or is it giver survives 7 years the gift is outside the scale of inheritance tax or if they die a day short of 7…
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Boost your pension AND keep your take-home pay.....too good to be true?!
Hey peeps :) I saw this article (yes, I look at sites other than MSE - don't boot me off Martin :o :money: ) talking about something called 'salary sacrifice'..... Link --> http://www.everyinvestor.co.uk/everyinvestor/personal-finance/pensions/boost-your-pension-and-keep-your-take-home-pay/e/154-1019 Now is there something…
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Time?
I've sent my P60 off to ask them to review my tax for last year. I know I'm due a refund because I was on Basic Rate from Sept - April and not working before that. When I was talking to our HR about it she said it would take months and months and months, but the last time I got a tax refund it took about 4 weeks. I applied…
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Valuation Tribunal Query
Hi, i hope this is the right place and that someone will be able to help me. I've recently moved into a two bedroom flat, which is currently council tax band E - £1600 a year. So i've appealed to the local valuation office, (which was easy enough because i've been there less than 6 months), but they have now come back…
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Overpaid Tax - how do I get it back?
Hi, I'm new to this and not sure if this has been covered before but I need some help! I have received a bonus from my company and as this was paid in the 1st tax month I have paid 40% tax. My normal salary would not take me into this tax bracket and the tax office told me that each month I would basically get a refund.…
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Leased Cars
When self-employed can I claim the payments made on a leased car as business expenses?
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in a Tizz over Tax
hello i've had a look at some of the threads & at the IR site but i don't know where to start. i'm interested in discovering if i can claim a tax rebate for the year to end of March 07. i started a new job in Feb 2007, & had been on Income Support & Job Seekers Allowance for the rest of the year. My total benefit income…
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VOA letter of rejection is the last straw
Today I have recieved a letter from the voa rejecting my application, I was told the valuation was done by square footage, I don't know where to turn, I'm trying to see if can paste my letter on here as the VOA have said I cannot appeal. There are two pages which is written I'm sure to totally confuse me, and it has. I…
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Council Tax reanding error - interest on monies returned?
Having just followed Martin's advice and found that my I was in the wrong band for council tax (and had the band reduced), I am told by my council East Riding of Yorkshire, that they will not be paying any interest on the monies they took. Yet I read on Martin's "success" forum that some councils are. The reason for my…
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Tax back on share dividends?
Hi, I am a full-time housewife at the moment so have no personal earnings. I have a few shares and have realised that I am paying tax on the dividends. Can I claim this back? How? I was earning until September 2005, basic maternity pay until jan 2006 then nothing since except child benefit. I now have dividend receipts…
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another cgt question....
I would really appreciate any help with this as my accountant seems to have issues on the way I have worked this out. I bought house for £42,500 sold it for £139,000 profit of £96,000 I owned the property for 7 years total ,lived in it for a year and rented it out for 6. By my understanding I would get 4/7 exempt under the…
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Capital Gain & Employment
Hi hope some1 can help, If i sell a house and have a capital gain, do i add the gain to my employment income and then tax it through the bands ie. 10% 22% & 40% or do i just keep it seperate altogether??
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balancing payments on self assessment, - how are they calculated?
for example: 1st payment on account: £6000 in january 2nd payment on account: £6000 in july then a balancing payment of 7 or 8000 also due in january? what do these do, and whats the point of it, AND can you choose to not have them so you just pay what you owe?
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Can i claim tax back for childcare costs?
Hi, I'm due to start a new job & will be skint no longer! I'll be earning £1000 per week (I currently only earn £100 per week) I've heard that if i can't claim £10,000 per year expenses, then i'll be supertaxed. That sucks! Is this correct? I wouldn't mind being so heavily taxed if my childcare didn't cost so much! I'll…
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How to get a Tax refund
Hi My 16 year old son works part time, he has paid about £700 in tax this year but is below the taxable earnings threshold. How does he go about getting this back? Thanks. :confused:
